There is plenty of evidence for market failures that motivate government intervention for innovation in general and research and development (R&D) in particular. R&D subsidies are a policy tool of major importance - both in theory and practice. The empirical evidence for the effectiveness of R&D...

The objectives in reforming the Finnish education and (public) research sectors are as follows : – Increasing the quality of research. – Streamlining the sectors to reduce fragmentation and overlapping activities. – Increasing internationalization. – Tackling the problem of late...

We study the interaction between private and public funding of innovative projects in the presence of adverse-selection based financing constraints. Government programmes allocating direct subsidies are based on ex-ante screening of the subsidy applications. This selection scheme may yield...

We study the interaction between private and public funding of innovative projects in the presence of adverse-selection based financing constraints. Government programmes allocating direct subsidies are based on ex-ante screening of the subsidy applications. This selection scheme may yield...